First Bank $FRBA Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its holdings in shares of First Bank (NASDAQ:FRBA) by 6.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 529,914 shares of the bank’s stock after selling 34,175 shares during the period. Royce & Associates LP’s holdings in First Bank were worth $8,722,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Princeton Capital Management LLC acquired a new stake in shares of First Bank during the fourth quarter worth $198,000. JPMorgan Chase & Co. boosted its holdings in First Bank by 26.5% in the third quarter. JPMorgan Chase & Co. now owns 21,464 shares of the bank’s stock valued at $350,000 after acquiring an additional 4,503 shares during the last quarter. NewEdge Advisors LLC acquired a new position in First Bank in the third quarter valued at $255,000. Qube Research & Technologies Ltd acquired a new position in First Bank in the third quarter valued at $569,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in First Bank in the third quarter valued at $169,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

First Bank Trading Up 0.5%

NASDAQ:FRBA opened at $15.75 on Friday. The business’s 50-day moving average is $15.88 and its two-hundred day moving average is $16.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.11. First Bank has a 12 month low of $14.26 and a 12 month high of $18.11. The firm has a market capitalization of $395.33 million, a PE ratio of 9.43 and a beta of 0.54.

First Bank (NASDAQ:FRBA) last released its quarterly earnings data on Monday, April 27th. The bank reported $0.30 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.17). First Bank had a net margin of 17.02% and a return on equity of 9.69%. The company had revenue of $36.39 million during the quarter, compared to analysts’ expectations of $36.99 million. Research analysts predict that First Bank will post 1.56 earnings per share for the current fiscal year.

First Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.36 annualized dividend and a yield of 2.3%. First Bank’s dividend payout ratio (DPR) is 21.56%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. DA Davidson reiterated a “neutral” rating and issued a $17.00 target price on shares of First Bank in a report on Tuesday, April 28th. Zacks Research cut First Bank from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, Piper Sandler reduced their target price on First Bank from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, First Bank currently has an average rating of “Hold” and a consensus price target of $17.50.

First Bank Profile

First Bank provides various banking products and services to small to mid-sized businesses and individuals. The company accepts various deposits, including non-interest-bearing demand deposits, interest bearing demand accounts, money market accounts, savings accounts, and certificates of deposit, as well as commercial checking accounts. It also offers various loan products comprising commercial and industrial loans, which include line of credit, inventory, equipment, and short-term working capital financing; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans consists of auto, personal, traditional installment, and other loans.